If you’ve been relying on high-yield savings accounts to grow your cash, there’s more bad news. Following recent revisions, both OCBC 360 and Standard Chartered Bonus$aver are cutting interest rates again from 1 May 2026—further reducing returns.
OCBC 360 Account: Interest Rates Reduced Again
What’s Changing
Here’s a quick breakdown of the key reductions:
Category | Tier | Before | After | Change |
Base Interest | All balances | 0.05% | 0.05% | No change |
Salary | First S$75K | 1.2% | 1.0% | ↓ Reduced |
Next S$25K | 2.4% | 2.0% | ↓ Reduced | |
Save | First S$75K | 0.4% | 0.4% | No change |
Next S$25K | 0.8% | 0.4% | ↓ Reduced | |
Spend | First S$75K & Next S$25K | 0.4% | 0.25% | ↓ Reduced |
Insure (12 months) | First S$75K | 1.2% | 1.0% | ↓ Reduced |
Next S$25K | 2.4% | 2.0% | ↓ Reduced | |
Invest (12 months) | First S$75K | 1.2% | 1.0% | ↓ Reduced |
Next S$25K | 2.4% | 2.0% | ↓ Reduced | |
MAX EIR | 5.45% | 4.45% | ↓ Reduced | |
What Can You Actually Expect to Earn?
To unlock the highest interest rate, you’ll need to credit at least S$1,800 salary, spend S$500 on eligible OCBC credit cards, grow your average daily balance by S$500, and purchase qualifying insurance and investment products.
But let’s be honest — most people just do the three basics: Salary + Save + Spend. If you’re not buying insurance or investment products through OCBC, your returns are a lot more straightforward. From 1 May 2026, sticking to these three categories gives you about 1.95% p.a., down from 2.45% previously — a 0.5% drop that adds up, especially if you’re parking close to S$100,000.
Standard Chartered Bonus$aver Account: Another Quiet Cut
It’s not just OCBC making moves. The Standard Chartered Bonus$aver Account is also seeing a fresh round of interest rate cuts from 1 May 2026, further reinforcing the broader downtrend across high-yield savings accounts.
Category | Before | After | Change |
Base Interest | 0.05% | 0.05% | No change |
Salary Credit | 1.00% | 0.90% | ↓ Reduced |
Card Spend | 1.00% | 0.90% | ↓ Reduced |
Invest (at least S$30,000; consecutive period of 6 months) | 2.50% | 1.50% | ↓ Reduced |
Insure (6 months) | 2.50% | 2.50% | No change |
MAX EIR | 5.85% (Realistic: 4.55%) | 5.85% (Realistic: 3.35%) | ↓ Reduced |
Salary Credit and Card Spend see a slight dip from 1.00% to 0.90% p.a. each. The steepest cut is to the Invest category — down from 2.50% to 1.50% p.a. Insurance rates remain unchanged.
For a more practical way to assess whether the revised rates are still worth it, try plugging your numbers into this high-yield savings account calculator:
OCBC 360 Account
Use Code: VHW8FDOS
Get competitive interest rates by crediting your salary, saving, or spending at least S$500 monthly.
Standard Chartered Bonus$aver
Use Code: DBF6F
Bonus$aver offers high interest rate for those who can consistently meet the spend and salary crediting requirements
Conclusion:
At this point, the direction is clear—high-yield savings accounts are no longer as rewarding as they once were. With both the OCBC 360 Account and Standard Chartered Bonus$aver cutting rates again, the gap between effort and reward continues to widen.
While these accounts can still offer decent returns compared to basic savings accounts, the reality is that you now have to jump through the same hoops for noticeably less interest. For many, especially those sticking to simple strategies like salary credit and card spend, returns have fallen closer to the ~1.95%–3.35% range—hardly “high-yield” by past standards.
That doesn’t mean you should abandon them entirely—but it does mean it’s time to re-evaluate your strategy. Whether that’s optimizing which conditions you fulfill, splitting funds across multiple accounts, or exploring alternative options, being passive is no longer enough.
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